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???? Why would anyone not pay off thr credit card at end of month
This thread demonstrates how incredibly detached from the real world consultants are.
Majority of people that carry credit card balance do not have nearly the level of education or privilege the people in this group do.
D3 I think you need to be more careful in the way you use the term privileged here. Receiving an education and educating yourself are two different things. I'm in a similar boat as C2 and taught much the same thing. I grew up on welfare to an immigrant family watching my parents work multiple jobs for 16+ hour days, 7 days a week with no holidays. They managed to raise 3 of us and never fell into credit card debt. They scraped every last Penny and borrowed from friends and family to open a business. A business they had no idea how to run and had to teach themselves. They were resourceful, paid back all debt with interest, were able to buy us a house and send us off to college. Both my older sibling and I are financially savvy but my younger one isn't because he was too young at the time to see the worst of the struggles. If others have not had this type of experience, I'd recommend not commenting and instead reading the feelings and frustration that people are trying to express here.
Im guessing there are lots of young folks(“little life experience”) on his thread...stop fooling yourselves consultants are a microcosm if he wider population..a significant amount of your peers carry balances, they just dont admit it...
This thread is one of many sad reminders of how completely out of touch with reality - specifically poverty in America - many consultants are. It’s great that some of you had parents who immigrated here and busted their ass so that you could have a better life. For those that make it, there are many others who do the same and don’t. Your “rags to riches” story is not the norm for many and it’s 100% not for a lack of trying.
There are many people in this country who work many jobs to make ends meet and are still barely able to put food on the table, obtain health care for themselves and/or their families, put a roof over their head, etc. It’s much more difficult to just pack up and move than you even understand. The process is extremely cost prohibitive.
Your parents’ - because they are the owners of their success and their hustle and their hard work - life stories are anecdotal. Instead of looking down your noses at people who have debt, learn. Educate yourselves. Read about the circle of poverty and how incredibly difficult it is to get out. Otherwise, you look arrogant and foolish, which are probably not traits your hard working parents taught you or would want you to have.
Thanks AD. Off topic here but it came to mind. Have you thought of setting up a fundraiser or program to financially help families who have loved ones who suffer from the same illness? You are obviously successful and likely have a great network. Not only would it help individual families but may increase awareness.
There a several that already exist where we give. One is this one: https://www.mightycause.com/organization/Coles-Cystic-Fibrosis-Family-Foundation
My daughter also has several walk teams each year with the CFF.org but those funds all go towards developing a cure. So far, her teams have raised about $125,000 in 10 years. Not an amazing amount but it’s a start.
As1, credit cards are one of the most expensive ways to finance debt though, as they typically have higher interest rates than any other financial tool
How much money do credit card companies have? That’s how many people.
D2 - I think you are missing the point that some of us didn’t have families to teach us anything at all but bad habits. It’s easy to do what c3 does and look down on those people, it’s hard to put yourself in their shoes and understand really how privileged you are.
And for the “I thought myself crowd”. That’s what impoverished people have to do. Unfortunately, they will make mistakes along the way absent some external force helping them (family, school, etc.) It’s amazing that you guys don’t get that. How does some kid who grew up poor even know what the right things he needs to focus on learning. Intuition ?
P. S. I'm not sure if you know this or not, cause it doesn't seem like you know a whole lot about life in general, but, there's not like an electrified fence around Chicago or anything. If you're getting boned in Chicago, then get on a bus and gtfo. If my parents can cross the pacific and still make it, then anyone can cross state lines and make a better life for themselves elsewhere. I have a lot of sympathy for people who are screwed by their current circumstances. I have less sympathy for people who do nothing to better their circumstances. People have way more influence over their own happiness than they give themselves credit for.
C2 - wow, that’s a great plan! So sorry no one has ever thought of that until now. They should all just get on a bus a go to Lincoln Park and live there. I hear the schools are much better there anyway. Thanks again! So embarrassed we haven’t thought of this before.
What firm do you work for?
Always pay off every month.
Why does the medical bill thing keep coming up as the silver bullet for why people go into CC debt? You should never put that on a CC, any hospital will put you on a payment plan with much better terms
Hey remember when D1 said they keep a balance to help they’re credit score?? Back when this thread was fun...
Carry balances are applied to items like cars and homes. Debt-credit ratio is more important
@as1 if you're carrying balances like that refinance it under a different umbrella personal loan
How many dummies are there?
And realistically, if you really NEED to carry a balance because you have to make a big purchase, there are plenty of cards out there with introductory 0 Apr for like 18 months. If you're so poor that you need to carry a balance on a cc to get by, paying the banks 20+ % interest is only digging the hole deeper.
I didn’t have a credit card then. You are quite rude
Haha H1
Theres a reasonable level of common sense about credit cards or general finance everyone should have regardless their financial literacy. Back in the day, I had a guy in my unit take his GCC to Vegas and blew through 14k. Some people are just plain dumb. 1Sgt whooped the living Jesus out of him.
Btw, my family is half immigrant and half enlisted military and I grew up in Woodlawn (south side Chicago) there are always ways out of neighborhoods like mine.